Steel Dynamics, Inc. (NASDAQ:STLD) Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC boosted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,536 shares of the basic materials company’s stock after buying an additional 2,123 shares during the quarter. Metis Global Partners LLC’s holdings in Steel Dynamics were worth $1,599,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new stake in Steel Dynamics in the fourth quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Steel Dynamics in the 4th quarter worth about $29,000. Lindbrook Capital LLC increased its stake in Steel Dynamics by 117.5% during the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock worth $29,000 after buying an additional 134 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $44,000. Finally, Denali Advisors LLC raised its stake in Steel Dynamics by 99.0% in the 4th quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $132.71 on Wednesday. Steel Dynamics, Inc. has a 1 year low of $90.55 and a 1 year high of $151.34. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.55 and a current ratio of 2.87. The firm has a market cap of $20.96 billion, a price-to-earnings ratio of 9.11 and a beta of 1.47. The stock’s 50-day moving average is $138.24 and its two-hundred day moving average is $123.87.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the company posted $4.01 earnings per share. The firm’s revenue was down 4.1% compared to the same quarter last year. Analysts predict that Steel Dynamics, Inc. will post 12.76 earnings per share for the current year.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were paid a $0.46 dividend. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. This represents a $1.84 annualized dividend and a dividend yield of 1.39%. Steel Dynamics’s dividend payout ratio (DPR) is 12.64%.

Analyst Ratings Changes

Several brokerages have recently weighed in on STLD. BMO Capital Markets boosted their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday, March 18th. UBS Group cut their price objective on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. JPMorgan Chase & Co. raised their target price on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Finally, Citigroup increased their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $121.17.

Steel Dynamics Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.